Political Quotes

“I include in the Record the following statements: The Statement of Administration Policy from the Biden administration opposing this bill; The statement from SEC Chair Gensler raising serious concerns about this bill; A letter from the Treasury Department to me, dated July 20, 2023, expressing serious concerns about this bill; A letter from the North American Securities Administrators Association opposing this bill; and A letter from 48 stakeholders opposing this bill. Statement of Administration Policy H.R. 4763--Financial Innovation and Technology for the 21st Century Act--Rep. Thompson, R-PA, and 11 cosponsors The Administration opposes passage of H.R. 4763, which would affect the regulatory structure for digital assets in the United States. The Administration is eager to work with Congress to ensure a comprehensive and balanced regulatory framework for digital assets, building on existing authorities, which will promote the responsible development of digital assets and payment innovation and help reinforce United States leadership in the global financial system. H.R. 4763 in its current form lacks sufficient protections for consumers and investors who engage in certain digital asset transactions.…”